Pimco, BlackRock Together Received More Than a Quarter of Verizon's $49 Billion Bond Deal

Dealers Comb Market to Find More to Buy After Record $49 Billion Sale

By

Matt Wirz,

Mike Cherney and

Kirsten Grind

Updated Sept. 12, 2013 7:48 p.m. ET

Two giant bond-fund managers purchased more than a quarter of the debt sold in Verizon Communications Inc.'s record $49 billion bond offering, the latest sign of the growing clout of large investment firms.

Together, Pacific Investment Management Co. and BlackRock Inc. Wednesday bought about $13 billion of the largest corporate-bond deal on record, said people familiar with the matter.